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Jones Day has advised Societe Generale in connection with the sale of its majority stake in the share capital of Societe Generale Montenegro, a company listed on the Montenegrin Stock Exchange, to OTP Bank Nyrt. Schoenherr advised Societe Generale on matters of Montenegrin law, while CMS advised OTP.

The closing of this transaction is expected to take place in the coming months, subject to the granting of clearances from the relevant regulators (including the banking, antitrust, and market authorities), and the relevant third party consents.

According to Jones Day, "Societe Generale Montenegro will be part of the cooperation agreement signed between Societe Generale and OTP Bank Nyrt. that encompasses the provision of mutual services in various fields (including, but not limited to investment banking, capital markets, financing cash, and liquidity management). The cooperation agreement includes Hungary and will soon be extended to Croatia and Bulgaria. Albania, Moldova and Serbia will join once the transactions will have closed."